What You Don’t Know About A Vehicle Title Loan
If you're facing a financial emergency, you may consider collateral loans and wonder if securing loans with vehicle equity is an option. You might have heard you can get a loan by owning your car, but what exactly is a vehicle title loan?
In this guide, we'll explain our vehicle title loan and preview the title loan process in Wisconsin. We're diving into all the details today so you can decide if a Wisconsin title loan is the right type of loan for you.
Keep reading to discover five things you need to know about getting a vehicle title loan in Wisconsin.
How Do Title Loans Work In Wisconsin?
1. You Can Get Up To $15,000 With A Vehicle Title Loan
Some people think a vehicle title loan is only for a few thousand dollars, but this isn't true. Many lenders, including us, offer vehicle title loans for up to $15,000.
The total amount of the loan will depend on certain factors, especially the condition of your car.
2. You Can Keep Your Car With An Auto Loan
Not all vehicle title loans are built the same. Some of them, like the one we offer at Wisconsin Auto Titles Loans, Inc., allow you to use your car during the loan's life. This means you get to use your vehicle while making payments.
If anything goes wrong, your car will be used as collateral, so we must inspect it before your loan is approved. This process is quick and easy, and you can drive your car on the same day.
Don't forget that vehicle title loans are only given to those with lien-free vehicle titles. This means you own your car outright and do not owe any payment on it. You must also not have any judgments against your vehicle.
You'll need a lien-free title that proves the car is yours. If you don't have one on hand, ask your local Department of Motor Vehicles for information on how to receive a copy.
3. You Don't Need To Be Employed For A Collateral Loan
To get a vehicle title loan, you'll need your state ID, lien-free title, and the vehicle. You do not need to be employed. This is one of the few types of loans that doesn't require you to be employed as long as you have a source of regular income.
Wisconsin Auto Title Loans, Inc. also doesn't require the borrower to provide proof of a checking account. No accounts, no problem.
Of course, having a steady job or a bank account is also acceptable. Still, many are eligible to apply for a vehicle title loan if they meet the abovementioned criteria.
4. All Credit Is Welcome At Wisconsin Auto Title Loans, Inc.
Other firms may require good or even excellent credit, but that won't be an issue at Wisconsin Auto Title Loans, Inc. Anyone with any credit, good or bad, is welcome to get started today.
Once you begin the process, a designated representative will be appointed to discuss your situation.
5. You Can Start The Title Loan Process From Home
Getting started is quick and easy, and you can do it from the comfort of your own home! Use our inquiry form to fill out your basic details online, and a representative will contact you to complete the title loan process.
How Can You Get A Vehicle Title Loan In Wisconsin?
Getting a vehicle title loan at Wisconsin Auto Title Loans, Inc. is simple. Here's all you need to do:
- Please fill out the online inquiry form at the top of our homepage.
- After you submit the online form, a representative will call you soon, so keep your phone handy. If you'd rather speak with a representative in person, contact the Wisconsin store nearest you.
- Once you chat with our rep and answer all your questions, you'll be given a list of items you need to bring to the vehicle inspection.
- To complete the title loan option, you will need the title, a valid ID, and your car for a quick inspection.
- Head to the agreed meeting location for your quick vehicle inspection. After speaking to the representative, you'll know how much money you qualify for.
- If approved for the loan, you can receive your money as soon as that same day or the next business day.
Get Started With A Title Loan In Wisconsin Today!
Loan stipulations change over time, especially in our ever-changing economy. If you've hit a rough patch and need money fast to face a financial emergency, fill out our online inquiry form today, and you can resolve your dilemma as soon as tomorrow.
We offer both title loans and installment loans for our customers. Either option can take as little as 30 minutes to get started. It's time to breathe easy – get your Wisconsin loan today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.